Oil prices moved into positive territory with small gains in Asian trade Wednesday, buoyed by stronger sentiment across financial markets in the region. Chinese equity markets, which have been a source of volatility and uncertainty for oil and commodities prices, were broadly higher, tracking an overnight rally in U.S. stock markets. The Shanghai Composite Index was last up by 1.7%. “Oil markets continue to be driven by everything but fundamentals,” consulting firm Energy Aspects wrote, adding that equity markets and macroeconomic data are in the driving seat amid seasonally low liquidity. On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $46.15 a barrel at 0336 GMT, up $0.21 in the Globex electronic session. October Brent crude on London’s ICE Futures exchange rose $0.24 to $49.76 a barrel. Oil prices have fallen by around 14% so far this year, and […]